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The Economic Times
The Economic Times
Debjit Sinha

Why is Donald Trump buying diesel from Vladimir Putin's Russia despite heavy sanctions? What will be impact on Oil prices?

President Donald Trump said he has struck a deal to obtain diesel from Russia, a stunning reversal of years of U.S. pressure on Moscow over its war with Ukraine and an attempt to address high fuel prices ahead of the U.S. midterm elections. The U.S. has not imported Russian oil or gas since 2022, when the Biden administration banned the imports because of Moscow’s invasion of Ukraine, according to the U.S. Energy Information Administration.

Trump said on social media on Friday that he struck the deal with Russian President Vladimir Putin in a phone call in which he was expected to discuss a suspected case of plague in Russia. Instead, Trump announced that Russia will immediately supply more than 300,000 tons of diesel, followed by an additional 500,000 tons in November and 1 million tons “immediately thereafter.” Russia will deliver an additional 3 million tons “within a short period of time” after that, he wrote.

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